Selling Pressure, Slew of Issues
Send Muni Prices Down 1/4

Updated Oct. 24, 1996 12:01 a.m. ET

NEW YORK -- Municipal bonds fell 1/4 point Wednesday, in opposition to the broader bond market advance.

Traders said secondary market selling pressure and heavy primary issuance depressed the tax-exempt market. Some $1.4 billion in tax-exempt issues were sold in the primary market, on the heels of almost $2 billion in new issue sales Tuesday.

Primary issuance dominated the day. Market players noted that new issues were selling...